By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Santa Ana, Calif. – Ingram Micro reported higher net sales and net income for the second quarter ended June 29.
Net sales were $10.3 billion, higher than net sales of $8.77 billion in last year’s second quarter. Net income was $69.7 million, higher than last year’s second quarter of $61.3 million
“I am pleased with our performance in the second quarter, as we executed well against our key objectives for the year, resulting in significant improvements across several important financial metrics," said Alain Monie, Ingram Micro president and CEO.
He credited improvement in the distributor’s business in Australia, its new mobility business “and saw gross margins expand, due in part to the investments we have made in areas such as advanced solutions, mobility, logistics services and cloud. We also strengthened our balance sheet as we drove strong cash flow from operations.”
Ingram Micro’s 2012 fourth quarter acquisitions of Brightpoint (also referred to as the mobility business) and Aptec Holdings added $1.2 billion and $90 million, respectively, to 2013 second quarter revenue, contributing 15 percentage points to the growth, the distributor said.
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